Genworth MI Canada: Successful IPO, But Mixed Market Reaction
July 9, 2009
What to take from Genworth's IPO | www.theglobeandmail.com
Genworth Financial (NYSE:GNW) completed an IPO of their Canadian operations in a bid to raise capital to pay down debt at the parent company. The mortgage insurer’s Canadian offering raised at least C$850 million (44.7mm shares priced at C$19 per share and the underwriters have the option to sell an additional C$127mm (6.7mm shares) up until August 6th). If the option is exercised in full, Genworth Financial would have a 56% ownership interest in Genworth MI Canada (TSX:MIC). This is the largest IPO in the Canadian marketplace since 2007, when gold miner Franco-Nevada raised C$1.3bn, and is only one of a handful of IPO’s completed in Canada YTD.
Changes coming in the dairy markets
June 25, 2009
For Dairy Farmers, the Depression is Here. Is Industrial Agriculture to Blame? | blog.eatwellguide.org
The current breakeven levels for US dairy farmers is estimated to be around $15 class III milk. The current market is roughly $10.
June 19, 2009
Tyson's Losses on Chicken are Pilgrim's Pride's Losses Too | industry.bnet.com
Will record chicken wing prices help boost chicken breast prices and producer margins?
Possible Changes in Pork Production
June 12, 2009
Lower crop supplies could mean higher food prices | www.washingtonpost.com
Elevated feed costs could lead to a reduction in the hog herd.
June 5, 2009
Agricultural, Livestock Futures Mostly Drop | www.washingtonpost.com
Despite the 4% decline so far in overall beef production, our models suggest that prime and choice beef output are somewhere around 3% higher than a year ago.
Margin for error with the grain crops is shrinking
May 28, 2009
Coping with feed price volatility | www.feedmanagement-digital.com
Corn and soybean stocks are projected to be relatively tight with the upcoming crop year (2009/10- for corn and soybean crops that are being planted now). And the major problem that buyers face when the trade is anticipating tight stocks is that the margin for error is small.
Historic Chicken Production Slowdown
May 22, 2009
Chicken plant's prospective owner intends to restore all 1,300 jobs | www.shreveporttimes.com
Chicken production in 2009 is expected to decline by the most since at least 1961 despite the purchase of the Pilgrims Pride Plant by Foster Farms.
May 8, 2009
Low milk prices leave many producers in survival mode | www.extension.umn.edu
Dairy cow slaughter prices in Wisconsin have climbed to their highest levels since October suggesting that dairy farmer profitability has improved and dairy cow slaughter has waned.
May 1, 2009
California Says Corn Ethanol Needs to Go On Carbon Diet | featured.matternetwork.com
As writing in previous notes, corn demand has been challenged during the last several months due to poor profitability from major corn users including ethanol producers and protein and dairy farmers. The demand from these industries make up roughly 70% of the annual corn crop. For the last 18 months or so profitability for livestock and poultry farmers has been poor to say the least and they have reduced the sizes of the herds/flocks.
April 24, 2009
Share Price Jumps After Pilgrim's Pride Posts Operating Profit | www.nwaonline.net
In 2006 when production cutbacks were in place, the chicken breast market increase during the next 11 weeks was nearly triple the average for the past 4 years.
E-Insurance: When will the insurance industry adopt modern communication tools?
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PayPal can thrive as a standalone company
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